To start with the idea of business:
We get attracted with most of the businesses around us. However, how much of this has been treated as profitable. There surely has to be an analysis done in this regard. The best source would be to know about the business that you want to start. The first step here is to visit the field of the said ‘business’, in person, in order to collect the information. Paper recycling business in India is said to one of the businesses that take profit out of waste!
Things to be kept in mind while starting the paper recycling business:
Location of source:
Finding the location to obtain the paper for recycling has to be decided. This includes the clubs used for recreation, grounds used for sports and many such places where the usage of paper is most found. You could also get it from the shops that sell papers.
The recycling of papers would involve the process of converting the papers into items like cartons and tissues papers. However, tissues papers are not used for recycling again.
Find the source to accept the papers for recycling:
The next step is to find the paper recycling plant that does the recycling of the papers. You can have your own plant; however, if the funds are limited and it is a startup, then you can get into a contract with the people who own a plant for recycling. This is because the steps involved in the recycling of the paper, like bleaching or the process of removing the ink etc. has to be done with a lot of technique and strategy. You could start doing it if you have a dedicated and trained staff in this area!
Look out for the right funding:
There has to be the funding done based on the requirements of the business. Hence, first there has to be a business plan that needs to be built. The amount spent on the process of getting the materials from the source to the place of recycling and again from the place of the latter to the business houses where they deal with the recycling ‘concepts’ has to be calculated and kept as reserve. There always have to be a plan ‘B’ and you should be ready to face the unexpected things to happen!
For example, the driver appointed to carry the above said items to the recycling plant, is not be present on a particular day or is absconding. In such situations you could inform the respective companies beforehand that till you get another replacement they could come and collect it for an agreed price of charge for transport!
Get the team straight into the business:
Team up with the scrap pickers to provide you with the source, which is the paper. Also you could inform the people at home in the locality where you have opened up your shop about the existence of your business through flyers. It is a kind of direct of your business. This way a part of the task to create demand is accomplished!
Paper recycling business is regarded as one of the best money making business. The more organized you are in terms of the supply, the more you would earn. The transportation of the papers to the recycling plant is an important aspect in this business.
Keep a backup of the required amount whilst it would be required during the time of extra orders. You would have to rent a godown to dump the requisites of the recycling and transport the same to the destination as and when requested.
Segregation of the waste paper:
One has to remember that not all the papers can be recycled. Hence, find out which are the ones that can be recycled or otherwise. This will help you to start and complete the processes faster. Demand for paper recycling is more in India as we see that there are more than four hundred mills that are into this.
Cost of the business and the analysis can be done by entering the market. Hence, interaction with the people who are into this business helps you to learn a lot not only with the theoretical knowledge and even with the practical knowledge. The experience that is shared by the former would assist you in understanding the business to an extent.
Among all the costs involved, you should have enough working capital to run the show. So, go ahead and do it from there.
License requirement for waste paper recycling business:
The procurement of license from the prescribed legal authority in order for the smooth running of business is necessary. Once that is done you have no fear to invest in any of the future endeavors. This will also give you the confidence in preparing the model for the business.
To sum it up, paper recycling is reaching its booming heights and you can get profits for a longer period of time in this field. The dedication and hard work along with some superb analysis of the marks it existence and would create a history in the field that you are in.